Describe supply and demand shifts occurring for firm


Speedy Limo is a limousine service located on the west side of Cleveland. It specializes in transporting people to and from Hopkins International Airport, although it will deliver people anywhere in the Cleveland area. It competes with taxis and public transportation as well as people deciding to drive their own cars. The demand for the firm's services had been increasing as more consumers use the service for convenience and due to higher parking rates at the airport. However, increases in gasoline prices and wage rates for drivers have increased costs for the firm. Describe the supply and demand shifts that are occurring for this firm.

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Microeconomics: Describe supply and demand shifts occurring for firm
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